KUALA LUMPUR (July 28): The FBM KLCI dipped 0.47% at mid-morning today in line with the retreat at regional markets.

At 10am, the FBM KLCI lost 8.03 points to 1,701.73.

The top losers included Kuala Lumpur Kepong Bhd, British American Tobacco (M) Bhd, Carlsnberg Brewery (M) Holdings Bdh, PPB Group Bhd, NCB Holdings Bhd, Lii Hen Industries Bhd, UMW Holdings Bhd, Time Dotcom Bhd, Hong Leong Financial Group Bhd and Maxis Bhd.

The actively traded stocks included Sunway Construction Group Bhd, Ikhmas Jaya Group Bhd, APFT Bhd, Eden Inc Bhd, The Media Shoppe Bhd and IFCA MSC Bhd.

The gainers included Lafarge Malaysia Bhd, Oriental Food Industries Bhd, DKSH (M) Holdings Bdh, Syarikat Takaful Malaysia Bhd, Oriental Holdings Bhd, Pestech International Bhd, Hap Seng Plantations Bdh and Hong Leon Industries Bhd.

Asian stocks started Tuesday under a cloud with markets waiting nervously to see how Chinese shares fare later in the session after Monday's slump all but erased risk appetite, according to Reuters.

The dollar was under pressure as China jitters spurred flows into havens such as the yen, while commodities including oil and copper wilted amid fears of a collapse in demand from China, it said.

Hong Leong IB Research said that given the lack of fresh catalysts and an extended selldown on Dow and renewed China fear, the FBM KLCI was expected to engage in a prolonged range bound consolidation within 1685 (9 July low) and 1738 (2 July high) band.

“However, we see good support at 1685 in the near term as sentiment is expected to be boosted by news S&P’s reaffirmation of Malaysia's long-term foreign currency sovereign credit rating at A-, with a "stable" outlook,” it said.